Knex Architectural Ironmongery Ltd - Accounts to registrar - small 17.2

Knex Architectural Ironmongery Ltd - Accounts to registrar - small 17.2

KNEX ARCHITECTURAL IRONMONGERY LIMITED - Company Information

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REGISTERED NUMBER: 07177077 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Knex Architectural Ironmongery Ltd

Knex Architectural Ironmongery Ltd (Registered number: 07177077)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Knex Architectural Ironmongery Ltd

Company Information
for the Year Ended 31 March 2017







DIRECTORS: Mr M Tofield
Mr A Way





REGISTERED OFFICE: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR





REGISTERED NUMBER: 07177077 (England and Wales)





ACCOUNTANTS: A4G LLP
Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR
Page 1
Knex Architectural Ironmongery Ltd (Registered number: 07177077)

Abridged Balance Sheet
31 March 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 72,785 73,653

CURRENT ASSETS
Stocks 25,690 27,325
Debtors 198,259 252,839
Cash at bank and in hand 273,084 203,788
497,033 483,952
CREDITORS
Amounts falling due within one year 146,402 153,445
NET CURRENT ASSETS 350,631 330,507
TOTAL ASSETS LESS CURRENT
LIABILITIES
423,416
404,160

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 423,316 404,060
SHAREHOLDERS' FUNDS 423,416 404,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2 August 2017 and were signed on its behalf by:





Mr M Tofield - Director


The notes form part of these financial statements

Page 2
Knex Architectural Ironmongery Ltd (Registered number: 07177077)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

Knex Architectural Ironmongery Ltd is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of rendering of services in
the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and
discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the entity and when specific criteria have been met for each of the
company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the
customer. Where payments are received from customers in advance of services provided, the amounts are
recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net
realisable value represents estimated selling price less costs to sell. Provision is made for slow moving, obsolete
and damaged stock where net realisable value is less than cost.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that
it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted
or substantively enacted by the balance sheet date.

Deferred tax has not been provided for as it is deemed there are no timing differenecs which have originated but
not reversed at the balance sheet date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

Page 3 continued...
Knex Architectural Ironmongery Ltd (Registered number: 07177077)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016 106,642
Additions 71,606
Disposals (62,500 )
At 31 March 2017 115,748
DEPRECIATION
At 1 April 2016 32,989
Charge for year 25,599
Eliminated on disposal (15,625 )
At 31 March 2017 42,963
NET BOOK VALUE
At 31 March 2017 72,785
At 31 March 2016 73,653

6. RELATED PARTY DISCLOSURES

During the year, the director, Mr M Tofield, received loan repayments of £2,909 from the company. This therefore
leaves total loans owed to the director, Mr M Tofield, at the year end of £11,976 (2016: £14,885) held under
creditors due within one year. The loan is made to the company interest free and is repayable on demand.

During the year, the director, Mr A Way, received loan repayments of £3,086 from the company. This therefore
leaves total loans owed to the director, Mr A Way, at the year end of £51 (2016: £3,137) held under creditors due
within one year. The loan is made to the company interest free and is repayable on demand.

Page 4